Sep 11, 2012 2:30pm PDT
the highest unemployment? >> it the united states? >> i heard it was spain. >> china? >> of the eurozone has the highest unemployment rate with 11.2%, higher than the u.s. and china. but europeans without work don't have to sleep on the streets. eurozone countries provide relatively generous assistance for the unemployed. but europeans fear they won't be able to afford this for much longer. eurozone countries have to compete not only with industrial giants like u.s. and japan, but also country still industrializing like china, india, and brazil. but which country has the biggest economy? >> the world's biggest economy? >> it germany? >> it probably china. >> the biggest economy in the world is still the usa. they make up 90% of the world economy. china is no. 2 with 14.3% of the world's total. the eurozone is close on china's heels. then comes india, japan, and brazil. if we look at per-capita income, the old order is still on top. the usa, japan and eurozone are far ahead of brazil, china, and india. america and europe's wealth is largely driven by creativity. this is borne out by the numbe
Sep 12, 2012 2:30pm PDT
banks in europe. this is a very late response to the crisis in the united states where we have seen what happens if banks are a threat to the system. it is a long procedure and germany has said maybe not all 6000 banks should be placed under it. those that are really important for the system -- we will see a banking union in the months to come. >> thank you. the commission cost plans for deeper fiscal integration and the german court ruling are steps berlin and brussels hope will and the financial 12 -- financial turmoil. >> the developments are being met with cautious optimism that europe might finally be getting on track to solving its financial problems. we talked to one analyst and they talked about with this decision means for them. >> their famous for all types of cutlery. plates are from all over the world, shipped to shops all over the european union. the court has kept german liabilities at 190 billion euros. this this this man says it's a great deal of money, but he still believes the esm is the right course to take. >> naturally, it's a question of solidarity in special cases.
Sep 10, 2012 2:30pm PDT
that i have today? that is my vision. but we will not get that if we split into 27 individual units. we need a strong, unified political union. >> the world of tomorrow is not 198 member states, nation states. a number of big nations and empires. china, india, brazil, the u.s., japan. if we want to play a role in the new world order, it is only by creating a federal union. >> many in the european parliament believe the current crisis will be a catalyst for change. instead of the eu breaking apart, they want it to grow closer together -- a more integrated, a political union. >> the crisis has put europe on the spot. revealing flaws in the union and questions about its future stability. what does europe's younger generation make of it all? what does europe mean to them? >> here are some opinions we heard on the streets of madrid, brussels, and berlin. >> ♪ berlin berlin >> europe is my home. it is an opportunity to be part of many different cultures in a single region. >> peace. >> for me, it means a lot. i am a student and i realize that after i'm finished, i can travel in any part of